Question

Short term PACS has a term duration of

• A. 1 to 3 years
• B. 18 to 24 months
• C. 2 to 5 years
• D. Less than 15 months

Answer 1

Answer:

D. Less than 15 months

SHORT TERM:

• Less than 15 months

• Purchasing seed, fertilizers, payment of wages to labour

• Also known as crop loan

• Sanction on the basis of anticipated crops

• Repaid  after the harvest

MEDIUM TERM

• 15 months - 5 years

• For agricultural equipment cattle

• Sheep building

• Repairing of wells for irrigation

LONG TERM

• 5 years – 15 / 20 yrs

• Purchase of new land

• Permanent improvement of farm land

• Reclamation of land

• Purchase of agricultural machinery, horticulture